Cattle Futures - Live Cattle Flat-Firm

US - CME live cattle ended flat to firm as market participants await the outcomeof this week's federal government cattle reports and the sale of remaining fedcattle for the week.
calendar icon 23 July 2007
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The U.S. Department of Agriculture's monthly cattle-on-feed and semiannualcattle inventory reports will be released Friday at 3 p.m. EDT (1900 GMT). Therange of analysts' cattle-on-feed forecasts is as follows:

Average Range of estimates of estimates On-feed in July 99.7 97.4-100.8 Placed in June 90.3 77.4- 98.7 Marketed in June 96.6 94.4-102.1

Analysts' individual estimates for July cattle inventories are shown only forthe first two categories.

Average Range All cattle & calves 99.7 99.5-99.8 Annual calf crop 99.6 99.4-99.8

There was word that fed cattle moved in Texas, Oklahoma and Texas at $89.50per hundredweight, down slightly from last week's trade. However, most cattleowners continue to press packers for more money.

Meanwhile, futures traders marked time by working August/October bullspreads. And, some participants sold August and bought October on spreads thatin part was associated with residual Goldman roll business.

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